Cover Image

Effects of awareness, opportunities and challenges on the growth of Islamic banks in Somalia

The bank is a significant financial institution that mobilizes public funds, providing customers with safe custody of savings and finance. However, in 1991, Islamic banking operations in Somalia ceased operations for more than two decades due to the civil war. Additionally, the growth has been hinde...

Full description

Saved in:
Bibliographic Details
Main Author: Dirie, Suado Mohamud
Format: Thesis
Language:English
English
English
Published: 2023
Subjects:
HG Finance
Online Access:https://etd.uum.edu.my/11214/1/permission%20to%20deposit-not%20allow-s829324_0001.pdf
https://etd.uum.edu.my/11214/2/s829324_01.pdf
https://etd.uum.edu.my/11214/3/s829324_02.pdf
https://etd.uum.edu.my/11214/
Tags: Add Tag
No Tags, Be the first to tag this record!
id my.uum.etd.11214
record_format eprints
spelling my.uum.etd.112142024-07-10T00:31:46Z https://etd.uum.edu.my/11214/ Effects of awareness, opportunities and challenges on the growth of Islamic banks in Somalia Dirie, Suado Mohamud HG Finance The bank is a significant financial institution that mobilizes public funds, providing customers with safe custody of savings and finance. However, in 1991, Islamic banking operations in Somalia ceased operations for more than two decades due to the civil war. Additionally, the growth has been hindered at the beginning of the 21st century because the government and the Central Bank of Somalia lack proper regulations. Thus, this study aimed to investigate the effects of awareness of customers, opportunities, and challenges on the growth of Somalia’s Islamic banks. It also used quantitative methods and sociological theory. In line with this research, 200 questionnaires were collected via convenience sampling. The data collected was analyzed using Statistical Package for the Social Science (SPSS) version 23. The findings of this study conclude some essential points about the reputation of Islamic banks among Somalians, their awareness level, and the shortcoming that hinders their growth in Somalia. It is found that most people have limited to no knowledge about the contracts and services provided by these Islamic financial institutions and do not know about Murabahah, Musharakah, Ijarah, and so on. In contrast, only a limited number of people have bank accounts. It was found that there are many opportunities for the growth of the Islamic banking industry in Somalia, as people feel safe using the services offered by Islamic banks. Besides, numerous challenges were recognized, such as the absence of a regulatory framework. This study will contribute to improving existing knowledge regarding the hurdles in the appropriate growth of Islamic banks of Somalia and the awareness and opportunities that help their development. 2023 Thesis NonPeerReviewed text en https://etd.uum.edu.my/11214/1/permission%20to%20deposit-not%20allow-s829324_0001.pdf text en https://etd.uum.edu.my/11214/2/s829324_01.pdf text en https://etd.uum.edu.my/11214/3/s829324_02.pdf Dirie, Suado Mohamud (2023) Effects of awareness, opportunities and challenges on the growth of Islamic banks in Somalia. Masters thesis, Universiti Utara Malaysia.
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Electronic Theses
url_provider http://etd.uum.edu.my/
language English
English
English
topic HG Finance
spellingShingle HG Finance
Dirie, Suado Mohamud
Effects of awareness, opportunities and challenges on the growth of Islamic banks in Somalia
description The bank is a significant financial institution that mobilizes public funds, providing customers with safe custody of savings and finance. However, in 1991, Islamic banking operations in Somalia ceased operations for more than two decades due to the civil war. Additionally, the growth has been hindered at the beginning of the 21st century because the government and the Central Bank of Somalia lack proper regulations. Thus, this study aimed to investigate the effects of awareness of customers, opportunities, and challenges on the growth of Somalia’s Islamic banks. It also used quantitative methods and sociological theory. In line with this research, 200 questionnaires were collected via convenience sampling. The data collected was analyzed using Statistical Package for the Social Science (SPSS) version 23. The findings of this study conclude some essential points about the reputation of Islamic banks among Somalians, their awareness level, and the shortcoming that hinders their growth in Somalia. It is found that most people have limited to no knowledge about the contracts and services provided by these Islamic financial institutions and do not know about Murabahah, Musharakah, Ijarah, and so on. In contrast, only a limited number of people have bank accounts. It was found that there are many opportunities for the growth of the Islamic banking industry in Somalia, as people feel safe using the services offered by Islamic banks. Besides, numerous challenges were recognized, such as the absence of a regulatory framework. This study will contribute to improving existing knowledge regarding the hurdles in the appropriate growth of Islamic banks of Somalia and the awareness and opportunities that help their development.
format Thesis
author Dirie, Suado Mohamud
author_facet Dirie, Suado Mohamud
author_sort Dirie, Suado Mohamud
title Effects of awareness, opportunities and challenges on the growth of Islamic banks in Somalia
title_short Effects of awareness, opportunities and challenges on the growth of Islamic banks in Somalia
title_full Effects of awareness, opportunities and challenges on the growth of Islamic banks in Somalia
title_fullStr Effects of awareness, opportunities and challenges on the growth of Islamic banks in Somalia
title_full_unstemmed Effects of awareness, opportunities and challenges on the growth of Islamic banks in Somalia
title_sort effects of awareness, opportunities and challenges on the growth of islamic banks in somalia
publishDate 2023
url https://etd.uum.edu.my/11214/1/permission%20to%20deposit-not%20allow-s829324_0001.pdf
https://etd.uum.edu.my/11214/2/s829324_01.pdf
https://etd.uum.edu.my/11214/3/s829324_02.pdf
https://etd.uum.edu.my/11214/
_version_ 1805892958730321920
score 13.211869

Similar Items